[Osem]

Whatever the outcome of this, there will always be those who argue it would have been better had we done something different. The truth is that whatever we do there are multiple factors at work. Carney's rightly pointing out that the risks of Brexit don't all lie on this side of the Channel but what we actually doing is trying to negotiate something that's never been done with an institution which is itself in a state of change and facing huge challenges to its fundamental raison d'etre. Depending on what happens in places like Greece and much more importantly Italy, France and Germany we may well find that what seemed like the best way forward at the outset is no longer the most desirable or even realistic. You can be sure that whatever concerns and difficulties May and her team have they are more than replicated in the likes of Berlin, Paris, Rome etc. Don't expect the respective governments or Eurocrats to admit the scale of their problems or doubts however. Their entire existence is based upon an expanding EU and ever closer union and they'll continue to pursue that goal until they get their way or it falls apart. That's going to be the case irrespective of what the UK eventually agrees and yes we will feel a considerable impact from any EU problems even when we are outside the club. Hopefully the UK will have time to build new trade deals and exploit new markets in the meantime which can help mitigate the effects but if/when the EU's wheels do come off it will have global implications.